Many businesses have temporarily shuttered due to COVID-19, but as owners get the green light to reopen some aren’t sure they’ll be able to afford it. (Black Press Media files)

Many businesses have temporarily shuttered due to COVID-19, but as owners get the green light to reopen some aren’t sure they’ll be able to afford it. (Black Press Media files)

Low profits, few customers in post-pandemic recovery says B.C. business survey

About 43 per cent of businesses say they think they will need government incentives to continue operating

A survey of British Columbia businesses finds barely one quarter believe they can open and operate profitably as the province gradually eases COVID-19 restrictions.

More than 1,300 member businesses of the Greater Vancouver Board of Trade, the BC Chamber of Commerce and the Business Council of British Columbia were asked about the second phase of B.C.’s restart plan.

A statement from the board of trade says 26 per cent expect to open and operate at a profit while 75 per cent worry about attracting customers.

Other concerns include a lack of cash to meet expenses or new safety standards and the board says 55 per cent also believe restarting their business will take at least two months.

But owners now report an average of just 12 layoffs, down from 43 in mid-March, and the board says that likely shows the effect of wage subsidy programs.

About 43 per cent of businesses say they think they will need government incentives to continue operating.

Val Litwin, president and CEO of the BC Chamber of Commerce says despite the easing of COVID-19 restrictions, the crisis is not over for businesses across the province.

“Policy-makers must appreciate that business models will be very fragile during this early stage of the recovery cycle and that ongoing supports will be essential,” he says in the statement.

Nearly 400,000 B.C. workers have lost their jobs since the pandemic hit, says Greg D’Avignon, president and CEO of the Business Council of British Columbia.

He is calling on the federal and provincial governments to address tax, regulatory and process costs.

The survey is the third in a series conducted by the Mustel Group on behalf of B.C.’s major business organizations since COVID-19 forced closure of many sectors of the provincial economy two months ago.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Coronaviruslocal business

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

file
Oak Bay resident bilked $3,300 in puppy scam

Three cases of fraud reported in two days

Sidney’s Star Cinema has temporarily closed as part of efforts to COVID-19. (Black Press Media File).
Sidney’s Star Cinema temporarily goes dark

Closure reflects provincial health order in effect until Dec. 7

Victoria police are asking for help locating Jordan Doddridge who is wanted on a Canada-wide warrant. (Courtesy of Victoria Police Department)
VicPD seek help locating man wanted on Canada-wide warrant

Jordan Doddridge has an extensive criminal history including violent offences

(Black Press Media file photo)
Victoria dine and dash brings $230 fine

Group paid the bill, police locate suspect who violated provincial restrictions, mistreated staff

Central Saanich Police impounded two vehicles in less than hours for excessive spending Monday evening and Tuesday morning, handing out $1,185 and 15 points in total fines during some nine hours. Both incidents happened at intersection of Highway 17 and Island View Road. (Central Saanich Police/Twitter)
Central Saanich police hand out almost $1,200 in excessive speeding fines

One driver received 12, the other driver three points

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. daily COVID-19 cases hits record 941 on Tuesday

Further restrictions on indoor exercise take effect

(Pixabay.com)
Man, 28, warned by Kootenay police to stop asking people to marry him

A woman initially reported the incident to police before they discovered others had been popped the question

Winston Blackmore (left) and James Oler (right) were sentenced on separate charges of polygamy this week in Cranbrook Supreme Court.
No more charges expected in Bountiful investigation, special prosecutor says

Special prosecutor says mandate has ended following review of evidence from Bountiful investigations

(Ashley Wadhwani/Black Press Media)
Refuse to follow B.C.’s mask mandate? Face a $230 fine

Masks are now required to be worn by all British Columbians, 12 years and older

Parksville’s French Creek Harbour experienced a diesel spill on Nov. 23 after a barge and fishing vessel collided. (Mandy Moraes photo)
Coast Guard cleans up diesel spill in Parksville’s French Creek Harbour

Barge carrying fuel truck collides with fishing vessel

Stock photo
Senior from Gibsons caught viewing child porn sentenced to 10 months

74-year-old pleaded guilty after police seized 1,500-2,500 images

BC Teachers' Federation President Teri Mooring is asking parents of school-aged children to encourage the wearing of masks when possible in schools. (THE CANADIAN PRESS/Chad Hipolito)
LETTER: Teachers union encourages culture of mask wearing in B.C. schools

BCTF President Teri Mooring asks parents to talk with children about wearing masks in school

Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld
Canada’s inability to manufacture vaccines in-house will delay distribution: Trudeau

First doses of COVID-19 vaccine expected in first few months of 2021, prime minister says

(Pixabay)
All dance studios, other indoor group fitness facilities must close amid updated COVID-19 rules

Prior announcement had said everything except spin, HIIT and hot yoga could remain open

Most Read